Kohl's Corporation sales for the four-week period ended September 1, 2007 increased 7.1% over the four-week period ended August 26, 2006. On a comparable store basis, sales decreased 0.6%.
For the 30 weeks ended September 1, 2007, total sales were up 9.7 percent over the 30 weeks ended August 26, 2006. On a comparable store basis, sales for the 30-week period increased 2.1 percent.
Larry Montgomery, Kohl's chairman and chief executive officer, commented, “August sales did not meet our expectations. Traditional back-to-school businesses such as juniors and young men's and boys performed well. Demand in other areas of the business such as home, men's and women's slowed versus their year-to-date trend. Regionally, the Northeast was the strongest while we experienced some softness in the southern and southwestern regions.”
The Company continues to expect comparable sales increases for the fiscal third quarter in the 2% to 4% range as it benefits from a calendar shift in October from November.
Sales Summary
($ in millions)
Fiscal Period Ended % Inc. This Year
------------------------- -------------------------
September 1, August 26, All Comp
2007 2006 Stores Stores
------------ ------------ ------------ ------------
August $1,223.4 $1,142.6 7.1% -0.6%
YTD $8,384.7 $7,640.5 9.7% 2.1%
